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As the planned date of Merge approaches and developers get ready for the PoS shift on September 15, the mood in the crypto world is improving. On-chain data, however, indicates that non-exchange whales appear to be liquidating their <a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum (ETH) holdings </a>in advance of the Merge.Whales are Negative on the Price of ETH Post-MergeThe Ethereum Top 10 Non-Exchange and Exchange Addresses data, according to on-chain analytics company Santiment, exposes the pessimistic sentiment of the top 10 non-exchange whales. Top non-exchange whales&#39; holdings of Ethereum (ETH) have declined, whereas exchange whales&#39; holdings have climbed in August.Even though anticipation for the Ethereum Merge on September 15 is growing, the biggest whales have decreased their holdings. Since May 10, the top 10 non-exchange addresses have sold approximately 3 million ETH for almost $5 billion. Since May 10, the top 10 exchange addresses have added 4 million ETH, totaling about $6.52 billion.It indicates that the top whales are bearish on the price of Ethereum (ETH) following the Merge. The selling could be due to Ethereum&#39;s post-Merge deflationary characteristics. In reality, <a href="https://www.coingabbar.com/en/crypto-currency-news-english/vitalik-people-continue-underrate-advantages-crypto-payment-2" rel="noopener noreferrer nofollow">Vitalik Buterin, a co-founder of Ethereum, has confirmed that the price of ETH </a>will decline after the Merge. The EIP-1559 burning mechanism will result in a decrease in the amount of Ethereum in circulation.The Ethereum Merge is also unlikely to increase transaction fees, decrease gas expenses, or facilitate the withdrawal of staked Ethereum. The ETH price has fallen as a result of the Ethereum Foundation&#39;s clarifications regarding the Merge.The execution layer and consensus layer improvements for Ethereum clients have accelerated the Merge preparations, though. On September 6 and September 15, respectively, the updates will make it possible to upgrade Bellatrix and Paris.The Price of Ethereum May Drop Below $1300Midway through August, the price of Ethereum (ETH) reached a high of $2000, but a sell-off caused it to fall to a low of $1500. The price of ETH is currently trading close to $1,700, up more than 3% in the previous day. The pricing has remained constant due to innovations and network activities.On September 30, however, approximately $2 billion in ETH options are scheduled to expire following the Merge. According to Deribit Options and Futures Exchange, calls are favoured and the maximum pain price is $1600. The Merge is expected to have an effect on the crypto market because open interests (OI) are higher.Meltem Demirors, recently asserted that the &#34;Merge will not allow ETH to scale up in price.&#34;Get the more crypto related update on :- <a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow">https://www.coingabbar.com/en/crypto-news-english</a>

The Merge Is Close, But Whales Are Negative On The Price Of Ethereum

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